Latvia: The annual survey among German-Latvian entrepreneurs indicates a positive business situation in Latvia.
In its annual survey the German-Baltic Chamber of Commerce (AHK) has asked Latvian companies with German shares for their opinion on the current business situation.
This was part of an international survey along with other Central and Eastern European states. Compared on an international level, all three Baltic States performed well. In terms of attractiveness for business Latvia notably ranked fifth out of 21 CEE countries.
Nearly three fourths of enterprises would decide to invest in Latvia again. As to the recent general business situation, as many as 88 % of companies polled see this as satisfactory or better. This figure is only superseded by an assessment of the current business situation within the enterprise, with a satisfaction level of 97 %.
Moreover, the future development of business is seen as positive, with some 2/3 of the companies involved assuming that the business situation will increase, along with turnover. Besides, around half of the companies polled assume their exports will increase. As to personnel, nearly all the companies expect to hire additional staff or that employee numbers will remain stable. That said, investments will most likely be extended (35 %) or maintained at the recent level (59 %).
The companies see room for improvement in terms of transparency of public procurement as well as employee qualifications. Accordingly, current measures by the government in the field of economic policies are not deemed sufficient.